Japanese supermarket giant forms alliances with two of Vietnam's largest supermarket chains.
The Aeon Co. has reached an agreement on a business tie-up with Fivimart and Citimart, two of Vietnam's largest supermarket operators.
In order to achieve rapid growth in the country, Aeon believes the partnerships with the two, which have strong business foundations in Hanoi and Ho Chi Minh City and are knowledgeable about customer needs in different regions, are of great significance. While working together to jointly develop the Aeon brand "TOPVALU", Aeon will inherit the knowledge of the two companies regarding product procurement and customer needs. Conversely, Aeon will provide them with know-how in logistics, IT, human resources development, and quality control.
Aeon, Fivimart and and Citimart will cooperate closely in promoting their business, including comprehensive financial services and convenience stores, in order to contribute to the modernization of Vietnam's retail industry and the enrichment of people's lives.
Fivimart is the largest supermarket company in Hanoi, with 20 stores, while Citimart is the largest supermarket operator in the south, with 27 stores, mainly in Ho Chi Minh City.
Aeon opened its first shopping mall in Vietnam in January 2014 - Aeon Mall Tan Phu Celadon in Ho Chi Minh City - which is one of the country's largest. This was followed by a second mall, Aeon Mall Binh Duong Canary, which opened in Binh Duong province in November. With plans to open a third mall in Hanoi this year and other initiatives on the drawing board, Aeon continues to broaden its business scope in Vietnam.